Word: merger
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Dates: during 1950-1959
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...TIME, Aug. 4). But Hopkins was making a calculated gamble on a longer-range future. Convair has the Government contract to develop an aircraft driven by atomic propulsion. Since Hopkins' own company already has the Navy's contract to build its two atomic submarines, the merger, in effect, made Hopkins the "Mr. Atom" of U.S. industry...
...common, selling around 8. Tiger's President Bob Prescott will run the new company, with Slick President Tom Grace as executive vice president. The two lines, which last year flew a combined total of no million ton-miles (46% of all freight flown in the U.S.), say the merger will make them the world's biggest air-freight carrier, the fifth biggest U.S. airline. By combining their fleets (67 planes), they expect to save as much as $750,000 a year by eliminating duplications in maintenance and other service facilities...
...risk. His personal holding company anted up $37.6 million in cash to enable a K-F subsidiary, Kaiser Manufacturing Co., to buy all the plants and equipment of Willys-Overland Motors for $62 million. If approved by Willys stockholders, as seems assured, the deal will be the biggest automobile merger since Chrysler bought Dodge for $170 million in 1928. In terms of assets, it will make the combine the fourth biggest U.S. motormaker...
...that Willys would buy K-F, instead of the other way around. But in today's topsy-turvy, tax-ridden world, a big loss is a kind of asset because it can be "carried back" against profits over a five-year period. Thus, the driving motive in the merger is the fact that K-F can apply $31.2 million of its losses against future profits. Thus also, if Willys in 1953 should again make $24 million in profits before taxes, the new company could keep all of them, pay no taxes, and in a single year K-F could...
...cooperative marketing deal of all the companies in the ailing industry. This feat so impressed Lord Greenway, head of the British government-controlled Anglo-Iranian (then called Anglo-Persian), that he invited Fraser, at 34, to join his board. Eight years later, as deputy chairman, Fraser planned the merger which combined Britain's two largest oil distributors into one company, Shell-Mex & BP (for "British Petroleum") Ltd., to market Anglo-Iranian and Shell Oil Co. products in Britain. When he became boss of Anglo-Iranian in 1941, oilmen began to think of him as "Mr. British Petroleum...